The focus of many bitcoin investors or traders is often short-term price performance.

While many overlook that macroeconomic events and principles also influence the long-term price movement potential of a cryptocurrency.

Over the past seven days, bitcoin price has been hovering around the lows of $43,861.45, and the high of $47,998.10, with an agenda to break this price range, evidenced by a retest of its previous high.

Price resistance to break out of this range can be attributed to bears movement, which always comes in the form of outright profit taking or selling amid rising prices.

In the past 12 months, the price of Bitcoin has grown by 265.5%, and a huge portion of that growth has been fueled by the buildup of institutional investor interest in this emerging asset, with a complementary stack from retail owners.

Read:Early Investors Are Sorry To Sell BTC Before They Become Billionaires

The current price of Bitcoin is $44,300, meaning that it still has about $20 thousand, to reach its highest level recorded earlier at $64 thousand.

Many investors and market watchers are now wondering about the next movement of Bitcoin.

The bull market will continue until 2022!

While Bitcoin may have remained in the doldrums according to its price growth in the past days, analysts led by Willy Wu believe that the uptrend is not over yet.

Willy Woo believes that the Bitcoin bulls will continue to ride the bull run until 2022.

Depending on the macroeconomic context, Wu says investors are still looking to push prices higher to peak accumulation points, which will likely form a new low, with an impending price hike.

In the context of the macro cycle, long-term investors are still climbing towards peak accumulation, which indicates bottoms. Early signs to me that the bull market may continue into 2022 and that Bitcoin is in the process of breaking free from the internal 4-year cycle of the halving.

– Willy Woo (woonomic) August 18, 2021

Read:Binance is preparing to launch its American platform, Binance US

With a pattern always recorded after the bitcoin mining reward halving, which appears to regulate the currency’s growth rate, Willy says bitcoin will likely break out of that trend in the coming months.

What is the expected price of Bitcoin at the end of 2021?

The price of the bitcoin currency previously achieved a record and a new high at the level of $ 64 thousand, which has now also become a continuous aspiration for the bitcoin.

Many analysts expected a massive rise in the price of Bitcoin towards the end of the year.

Among the analysts who see Bitcoin rising to high levels towards the end of the year is the analyst nicknamed “PlanB” and the inventor of the “Stock-2-Flow” model.

According to him, the worst case scenario for bitcoin price based on his model is $135,000 by December 2021.

He told the Bitcoin price would be at $47,000 in August, $43,000 in September, $63,000 in October, $98,000 in November and $135,000 in December 2021.

Bitcoin was below $34,000, triggered by Elon Musk’s FUD energy and mining crisis in China.

There is also a more fundamental reason that we see weakness in June, possibly in July. My worst case scenario for 2021 (price/based on series): August > 47K, September > 43K, October > 63K, November > 98K, December > 135K pic.twitter.com/hDONOVgxH1

Read:What is a Bitcoin Traded Fund (ETF)?

– PlanB (@100 trillion USD) June 20 2021

It remains only expectations that may be right or wrong, so it is necessary to be careful and enter with caution, because the crypto market is a very volatile market.

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